{"id":179148,"date":"2024-08-20T02:22:00","date_gmt":"2024-08-20T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=179148"},"modified":"2024-08-20T08:44:13","modified_gmt":"2024-08-20T12:44:13","slug":"tech-talk-for-tuesday-august-20th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/08\/20\/tech-talk-for-tuesday-august-20th-2024\/","title":{"rendered":"Tech Talk for Tuesday August 20th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday August 20th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 3 points at 8:30 AM EDT.<\/em><\/p>\n

The Canadian Dollar was unchanged at US 73.40 cents following release of Canada\u2019s July Consumer Price Index at 8:30 AM EDT.<\/b> Consensus was a 0.3% increase versus a 0.1% decline in June. Actual was a 0.4% increase. Consensus on a year-over-year basis was a 2.5% increase versus a 2.7% gain in June. Actual was a 2.5% increase.<\/em><\/p>\n

Palo Alto<\/b> Networks<\/b> advanced $7.19 to $350.55 after reporting higher than consensus fiscal fourth quarter revenues and earnings. The company also offered positive guidance.<\/em><\/p>\n

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Monster Beverages<\/b> added $0.49 to $47.09 after announcing a $500 million share buyback program.<\/em><\/p>\n

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Amer Sports<\/b> gained $0.65 to $13.00 after offering a favourable outlook.<\/em><\/p>\n

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Johnson & Johnson<\/b> added $0.27 to $159.90 after winning FDA approval for a lung cancer treatment.<\/em><\/p>\n

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<\/em><\/p>\n

EquityClock\u2019s Stock Market Outlook for August 20th<\/sup><\/strong><\/font><\/em><\/p>\n

<\/font><\/sup><\/em><\/strong><\/p>\n

End-of-summer seasonal positivity in a position to support stocks surrounding the last long weekend of summer. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/08\/19\/stock-market-outlook-for-august-20-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

Technical Notes<\/strong><\/font><\/p>\n

S&P\/TSE 60 Index<\/b> moved above 1,386.40 to an all-time high extending an intermediate uptrend. <\/p>\n

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BMO Equal Weight Canadian Banks ETF<\/b> $ZEB.TO moved above Cdn$37.19 extending an intermediate uptrend. <\/p>\n

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TSX Gold iShares<\/b> $XGD.TO moved above Cdn$22.98 to a four year high extending an intermediate uptrend. <\/p>\n

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U.S. broker iShares <\/b>$IAI moved above $125.06 to an all-time high extending an intermediate uptrend. <\/p>\n

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S&P 100 and NASDAQ 100 stocks moving to an all-time high included Berkshire Hathaway<\/b>, Altria, AbbVie, Check Point, Coca Cola Euro-Pacific and MercadoLibre<\/b><\/p>\n

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National Bank<\/b> $NA.TO a TSX 60 stock moved above Cdn$117.54 to an all-time high extending an intermediate uptrend. <\/p>\n

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Agnico Eagle Mines<\/b> $AEM a TSX 60 stock moved above US$80.05 to an all-time high extending an intermediate uptrend.<\/p>\n

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Fortis $<\/b>FTS.TO a TSX 60 stock moved above Cdn$59.54 to an all-time high extending an intermediate uptrend. <\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

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 <\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for August19th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for August 19th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Sectors<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for August19th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Links offered by valued providers<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

August Seasonality & Sentiment Signal Turning Point: TheTechnicalTraders<\/b><\/p>\n

August Seasonality & Sentiment Signal Turning Point \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Markets expect Powell’s language to be dovish on rate cuts: Economist<\/b><\/p>\n

Markets expect Powell’s language to be dovish on rate cuts: Economist \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

7-Eleven Owner Gets $31 Billion Buyout Offer<\/b><\/p>\n

7-Eleven Owner Gets $31 Billion Buyout Offer \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The Fed’s Next Move: What to Expect from Powell’s Speech: Guy Adami, Dan Nathan, Liz Young<\/b><\/p>\n

The Fed’s Next Move: What to Expect from Powell’s Speech \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Traders should beware another pullback ahead, expert says Vance Howard<\/b><\/p>\n

Traders should beware another pullback ahead, expert says \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

<\/b><\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

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The intermediate term Barometer added 4.20 to 73.20. It remains Overbought. Daily uptrend was extended.<\/p>\n

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The long term Barometer added 1.60 to 75.40. It remains Overbought. Daily uptrend was extended.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

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The intermediate term Barometer added 0.44 to 68.58. It remains Overbought. Daily trend was extended.<\/p>\n

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The long term Barometer dropped 1.33 to 74.34. It remains Overbought.<\/p>\n

 <\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Tuesday August 20th U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points at 8:30 AM EDT. The Canadian Dollar was unchanged at US 73.40 cents following release of Canada\u2019s July Consumer Price Index at 8:30 AM EDT. Consensus was a 0.3% increase versus a 0.1% decline […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-179148","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=179148"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179148\/revisions"}],"predecessor-version":[{"id":179158,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179148\/revisions\/179158"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=179148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=179148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=179148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}